Riding on a sharp growth in exports of gems and jewellery, engineering goods and petroleum products, India’s goods exports in April 2021 shot 197.03 per cent to $30.21 billion compared to April 2020 when exports had plunged due to the national lockdown and halt in manufacturing to check the Covid-19 pandemic.
Goods imports in April 2021 increased 165.99 per cent to $45.45 billion, widening trade deficit to $15.24 billion during the month which was 120.34 per cent higher than the deficit in the same month last year, per early estimates released by the Commerce & Industry Ministry on Sunday.
Both exports and imports in April 2021 also posted growth of 16.03 per cent and 7.2 per cent respectively compared to April 2019 (a normal month with no lockdown)
In April 2021, the value of non-petroleum exports doubled to $26.85 billion compared to April 2020 and 19.44 per cent over $22.48 billion in April 2019.
In April 2021, oil imports increased 132.26 per cent to $10.8 billion and non-oil imports rose 178.6 per cent to $34.65 billion compared to the same month last year.
Commodity exports up
All major commodities have posted growth in export during April 2021 compared to April 2020, including gems and jewellery (9158.63 per cent), jute products (1556.39 per cent), carpet (1351.48 per cent), leather and leather manufactures (1168.96 per cent), readymade garments (920.52 per cent), cotton yarn/fabrics (616.6 per cent), electronic goods (362.86 per cent), mica, coal and other ores, minerals including process (234.63 per cent), engineering goods (234.63 per cent), tobacco (183.86 per cent), iron ore (175.15 per cent ) and petroleum products (171.11 per cent).
In imports, items that posted the sharpest increase in April 2021 include petroleum products (132 per cent), electronic goods (213 per cent), and also gold.